The JSE Securities Exchange (JSE) was flat and very much a mixed bag in noon trade on Friday, with little or anything to drive the market as players took a bit of a breather after the bourse’s recent record highs.
At 12.10pm, the all-share index was flat (0,02%). Industrials were 0,24% stronger, and the financial and banks indices up 0,18% and 0,24% respectively. Resources retreated 0,33%, the gold-mining index gave up 0,26% and the platinum-mining index eased 0,12%.
The rand was quoted at R6,0050 per dollar from R6,04 when the JSE closed on Thursday, while gold was quoted at $443,50 an ounce from $442/oz at the JSE’s last close.
A dealer described the market as extremely quiet.
“The market is a little bit mixed and slightly on the weaker side today. The rand is pretty flat and it is a lot quieter with thin volumes. I think the market is just taking a breather,” she commented.
London-listed diversified resources group Anglo American was unchanged at R144 after being up 50 cents earlier, but BHP Billiton was down 50 cents at R65,80.
Gold Fields gained 45 cents to R90,15, while rival Harmony, which is engaged in a bitter battle for control of Gold Fields, was up 15 cents to R70,10. Anglogold Ashanti, however, was down R4,75 or 1,91% to R244, while AngloPlat weakened R3,95 or 1,73% to R225.
Petrochemicals group Sasol slipped 151 cents to R116,50.
London-listed brewer SABMiller was 20 cents weaker at R97,30, while food group Tiger Brands gained 90 cents to R89,90.
Cellular network operator MTN Group climbed 104 cents to R34,35. After the close on Thursday, MTN reported adjusted headline earnings per share of 165,8 cents for the six months ended September 2004, representing a 34% improvement from 123,4 cents posted previously.
Retailer Edcon rose 1,39% or R3,50 to R255,50.
Packaging group Nampak gained 0,95% or 15 cents to R15,95.
While FirstRand firmed two cents to R12,60, Standard Bank added 25 cents to R58,35.
AFX reports that blue chips ended higher on Thursday, buoyed by gains for Altria Group, while Intel’s upbeat 2005 outlook helped the Nasdaq shake off early weakness that was sparked by Applied Materials’ first-quarter profit warning.
Session gains came amid a new pullback in oil prices and a mixed bag of economic data.
The Dow Jones Industrial Average ended up 22,98 points, at 10 572,55. Within the benchmark index, Altria rose 2,2% to a new high of $58,70. Two brokerages lifted their view on the tobacco and foods giant over increasing confidence that its legal woes may soon be over, setting the stage for a major corporate reorganisation to proceed — including a possible break-up.
Turning lower, McDonald’s fell 1,5% after the Agriculture Department said a second case of mad cow disease might have been found in the United States.
The news sent cattle futures lower on the Chicago Mercantile Exchange.
The Nasdaq Composite Index rose 4,6 points, to 2 104,28. The S&P 500 Index edged up 1,61 points, to 1 183,55. — I-Net Bridge